Bluebird Merchant Ventures Limited updates on JV agreement

Bluebird Merchant Ventures Limited (LON: BMV) has come up with a JV (Joint Venture) update with regards to the South Korean Projects.

  • Earlier, on 3 August 2020 the company had announced that it had 45 days to present an offer to Southern Gold to acquire their 50 per cent interest in the Gubong and Kochang projects.
  • Now, Southern Gold has informed the company that they will not accept the offer.
  • Under the provisions of the agreement, an independent expert will now be hired, and valuation must be agreed within 30 days from the expert’s being appointed.
  • On 14 September 2020, at the time of writing, GMT 12:05 PM, BMV shares were trading at GBP 4.20, up by 0.20 points or 5.00% against the previous day closing price.